Total Doesn't Plan to Buy Stakes of U.S. Oil Companies Leaving Venezuela

(Bloomberg) -- Total SA, Europe's third-largest oil
company, isn't planning to take over the stakes of U.S. oil
companies that are quitting projects in Venezuela, Chief
Executive Officer Christophe de Margerie said.

The Venezuelan government took control of four oil ventures
last month. ConocoPhillips and Exxon Mobil Corp. refused to sign
deals, while Chevron Corp., Statoil ASA, Total SA and BP Plc
agreed on terms with the authorities.


Read more at Bloomberg Energy News

KKR aims to take role of banks with IPO

(Reuters) - Private equity firm Kohlberg Kravis Roberts & Co. said in its IPO prospectus earlier this week that the $1.25 billion offering will allow the firm to expand its ability to syndicate equity and reduce reliance on third-party sources of capital.




Syndicating leveraged buyout equity is normally the role of investment banks. Does KKR wish to cut banks entirely out of the LBO process? The answer is no, sources close to the firm say, since the firm will still rely on banks to handle the debt borrowed for the deals.


Read more at Reuters.com Business News

UPDATE 1- More arrested for defying Zimbabwe price freeze

(Reuters) - HARARE, July 7 - Zimbabwe police arrested 17 more
business executives for defying an official price freeze, as the
ruling party endorsed the government's tough stance on
businesses, state media reported on Saturday.




President Robert Mugabe's government last week ordered
prices of basic goods and services slashed by half and deployed
a crack enforcement unit, which has arrested more than 200
business people for breaching the price controls.


Read more at Reuters.com Economic News